Last edited by Iriemon; Jun 01 2011 at 08:17 AM.
Do you not understand a thing about economics. Housing was a bubble. It popped. Look at historical housing trends and the current prices around where they should be on a historical basis. However, considering the glut of over-builsing during the boom and the number of bank forclosures still going on, and prices should be below historical trends. So the housing prices are still correcting. I though right wingers believed in the free market?
The democrats tell us it's all Bush's fault, or they brag that things are getting better. But Bush has nothing to do with it and things are getting worse, not better. Don't believe anything Nancy Pelosi and her ilk say, they lie! [/quoted]
Pure delusion. You do know it was September 2008 when Lehman brothers collapsed and AIG went bankrupt. You know that before Obama took office the Dow dropped 700+ points in a day in it's largest fall EVER and GM was saying it was bankrupt.
Look at the pages of graphs and charts in this thread. If you feel so strongly, then maybe you should be intelligent enough to know what you are talking about! Reagan initially deregulated banking allowing cross state banking and such. The Clinton de-regulated them more and banks started doing derivitives and credit default swaps and signed the Commodities Modernization Act that exempted derivitives from regulation. Then uder Bush the SEC watched the whole house of cards be built and did nothing.
And the line about the middle class must be a joke, right. It is the right wing that supports the absolute laisez-faire economics that has been returning this country to the robber barron days of a small class of super rich and everyone else not benefiting significantly. The middle class has been disappearing for decades. Look at the entire Bush presidency and the middle class was loosing earning power. This is a long term trend. It is a problem, but it is not Obama's fault.
We are still adjusting to the historical trend. With a surplus of building during the boom and an excess of foreclosed properties. the prices should be below the trend line. That is how the market should be working.
The right wing really needs to pull their heads out of the crevice where the sun does not shine and look around. The democrats have flaws and problems. Clinton deregulating the banks and pushing low income loans through freddie and fannie were wrong. But the right wing acts like they didn't cut taxes spend more creating massive deficits under Reagan and Bush, pass the largest entitlement in 40 years without funding or failed to regulate the banks when problems became apparent.
And still the republicans are grandstanding with the debt limit and refusing to raise taxes from historically low rates as the country can't pay it's bills.
Again... clueless talking points a rational argument does not make.
Maxim #2: Defending the losing argument of another a wise man does not make.
It will get worse I'm afraid, but Bush has nothing to do with it.Many were afraid it would get a *lot* worse.
The Great Bush Recession has been turned around since Obama took office.
Obama is running the US economy into the ground. There will be no recovery
until this joker is no longer president.
Today news (Wednesday 6/1/2011) :
Reports Wednesday on manufacturing and company hiring were so weak that many economists immediately downgraded their forecasts for Friday's jobs report for May. Some analysts also slashed their estimates for growth in the April-June quarter.
Obama is killing the US economy according to economic experts.
Last edited by sammy; Jun 01 2011 at 03:44 PM.